Edgestream Partners L.P. Invests $899,000 in Airbnb, Inc. (NASDAQ:ABNB)

Edgestream Partners L.P. purchased a new stake in Airbnb, Inc. (NASDAQ:ABNB) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,088 shares of the company’s stock, valued at approximately $899,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ABNB. Farrow Financial Inc. boosted its position in shares of Airbnb by 1.0% in the second quarter. Farrow Financial Inc. now owns 7,171 shares of the company’s stock valued at $1,087,000 after acquiring an additional 69 shares during the period. GYL Financial Synergies LLC boosted its holdings in Airbnb by 5.0% in the 2nd quarter. GYL Financial Synergies LLC now owns 1,592 shares of the company’s stock valued at $241,000 after purchasing an additional 76 shares during the period. HB Wealth Management LLC boosted its holdings in Airbnb by 1.6% in the 2nd quarter. HB Wealth Management LLC now owns 4,938 shares of the company’s stock valued at $749,000 after purchasing an additional 76 shares during the period. Optas LLC grew its position in shares of Airbnb by 4.5% during the 2nd quarter. Optas LLC now owns 1,829 shares of the company’s stock worth $277,000 after purchasing an additional 78 shares in the last quarter. Finally, Sage Mountain Advisors LLC increased its holdings in shares of Airbnb by 1.1% during the second quarter. Sage Mountain Advisors LLC now owns 7,341 shares of the company’s stock worth $1,113,000 after purchasing an additional 79 shares during the period. 80.76% of the stock is owned by institutional investors and hedge funds.

Airbnb Stock Up 1.2 %

Airbnb stock opened at $139.07 on Thursday. The firm has a 50 day moving average price of $134.44 and a two-hundred day moving average price of $135.12. The company has a debt-to-equity ratio of 0.23, a quick ratio of 1.62 and a current ratio of 1.62. Airbnb, Inc. has a 52-week low of $110.38 and a 52-week high of $170.10. The firm has a market cap of $88.17 billion, a price-to-earnings ratio of 48.80, a PEG ratio of 1.95 and a beta of 1.13.

Airbnb (NASDAQ:ABNB) last released its earnings results on Thursday, November 7th. The company reported $2.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.17 by ($0.04). Airbnb had a net margin of 16.96% and a return on equity of 32.88%. The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.72 billion. During the same quarter in the previous year, the firm earned $2.39 EPS. Equities analysts predict that Airbnb, Inc. will post 4.02 EPS for the current year.

Analyst Upgrades and Downgrades

ABNB has been the subject of several recent research reports. Cantor Fitzgerald reiterated an “underweight” rating and issued a $94.00 price target on shares of Airbnb in a research note on Monday, October 7th. B. Riley reduced their target price on Airbnb from $150.00 to $140.00 and set a “neutral” rating on the stock in a report on Wednesday, August 7th. Piper Sandler boosted their price target on Airbnb from $125.00 to $145.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Royal Bank of Canada reduced their price objective on shares of Airbnb from $150.00 to $120.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 7th. Finally, Robert W. Baird boosted their target price on shares of Airbnb from $120.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Six equities research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $138.94.

Insider Buying and Selling

In related news, CFO Elinor Mertz sold 6,250 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $120.00, for a total transaction of $750,000.00. Following the transaction, the chief financial officer now directly owns 537,072 shares of the company’s stock, valued at $64,448,640. This represents a 1.15 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Aristotle N. Balogh sold 500 shares of Airbnb stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $136.01, for a total transaction of $68,005.00. Following the completion of the sale, the chief technology officer now directly owns 185,414 shares of the company’s stock, valued at approximately $25,218,158.14. This trade represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 718,517 shares of company stock valued at $91,910,057 over the last 90 days. Company insiders own 27.83% of the company’s stock.

Airbnb Profile

Airbnb, Inc, together with its subsidiaries, operates a platform that enables hosts to offer stays and experiences to guests worldwide. The company’s marketplace connects hosts and guests online or through mobile devices to book spaces and experiences. It primarily offers private rooms, primary homes, and vacation homes.